\documentclass[11pt]{report}

\usepackage[english]{babel}
\usepackage{amsmath, amssymb, amsthm}
\usepackage{amsfonts}
\usepackage[boxruled]{algorithm2e}
\usepackage[margin=1.5in]{geometry}
\usepackage{helvet}
\renewcommand{\familydefault}{\sfdefault}

\begin{document}

\IncMargin{1em}
\begin{algorithm}
  \SetKwInOut{Input}{Input}
  \SetKwInOut{Result}{Result}
  \Input{\begin{tabular}[t]{l}
      Model parameters $\Theta = \{\theta_1, \ldots, \theta_p\}$. \\
      Blocking $\{\Theta_j\}_{j=1}^{B}$ such that $\bigcup_{j=1}^B \Theta_j = \Theta$ and $\bigcap_{j=1}^B \Theta_j = \varnothing$. \\
      Functions $\{f_j\}_{j=1}^{B}$ such that $f_j$ samples from $p(\Theta_j | \Theta \setminus \Theta_{j})$.
    \end{tabular}}
  \Result{Simulated values $\{\Theta^i\}_{i=1}^N$ from the joint distribution of $\Theta$.}
  \Begin{
    $\Theta \leftarrow \operatorname{Initialize}()$\;
    \For{$i = 1$ \KwTo $N$}{
      \For{$j = 1$ \KwTo $B$}{
        $\Theta_j \leftarrow f_j(\Theta)$\;
      }
      $\Theta^i \leftarrow \Theta$\;
    }
  }
\end{algorithm}

\end{document}
